Wrong FICO-HELP PLEASE!!!!

I really needs some advice. Over the weekend I went to a car dealer to trade my car and was told that my score was lower than what I expected. I pulled my credit report here on 3/31/2010 and was given a number much higher than what the car dealer is showing on there credit report. How is that possible? We are not talking 2-3 points well over a hundred point difference. Are myfico.com scores accurate? Could there be some mistake? I'm really confused and it has been bothering me all weekend.

Re: Wrong FICO-HELP PLEASE!!!!

Sometimes there can be as much as 100 points difference between you highest and lowest CS. I know that this is nearly the case for me, because all of my derogs were reported by the same CA, and that CA only reports to Experian. I can get a CC almost anywhere now except for one place that uses Experian scores. It took me a while to figure out why this was the only place refusing to issue me a card. Was the CS the car dealer reported to you 100 points lower than your lowest score? If so, then there's something definately wrong here.

Re: Wrong FICO-HELP PLEASE!!!!

No all three scores were a hundred points less than what I had pulled on 3/31/2010. In march when I pulled both my transunion and equifax were in the mid-high 600s now they are all 505. 510. This seems extremely odd to me. I know that each CS can be a few points different from each other but I just pulled this report and nothing has changed as far as reportings go how can it be 100 plus points less? Something is definately wrong.

Re: Wrong FICO-HELP PLEASE!!!!

I really needs some advice. Over the weekend I went to a car dealer to trade my car and was told that my score was lower than what I expected. I pulled my credit report here on 3/31/2010 and was given a number much higher than what the car dealer is showing on there credit report. How is that possible? We are not talking 2-3 points well over a hundred point difference. Are myfico.com scores accurate? Could there be some mistake? I'm really confused and it has been bothering me all weekend.

I hate to suggest this, but it is possible that the car dealership is lying about your credit score. It's a well-known scam - someone goes in to take advantage of a 0% financing deal, the dealer pulls his credit, and comes back with a disturbed look on his face and announces that the customer's credit score doesn't qualify for the 0% deal, but they'd be able to swing a 9.9% interest rate. Do a web search for "car dealer lying about credit score" or some variation thereof and you'll see how widespread this practice is.

When I purchased my minivan, I went to a supposedly reputable Toyota dealership in my area. I had my credit reports and score with me. I also had a solid financing approval from my bank in hand, so that if I ran into any trouble I could always fall back on my outside financing. When I told the dealer that I was interested in Toyota's promotional financing, the finance guy said, "Sure, we just need to run your credit,' then added gravely, "but I should warn you that people's credit scores aren't always as good as they assume." And I said, "Don't worry! I have my credit scores and reports with me, so if you come up with a low score, we can compare the reports side-by-side to resolve any discrepancies. And if that doesn't work, I can always go with my bank financing. So let's see what score you come up with." He hesitated for a second - I loved the expression on his face - and proceeded to pull my score, which fortunately for him was in line with what I expected.

Another less sinister possibility for the score discrepancy is that the dealer pulled an "auto-enhanced" credit score, which gives added weight to prior or open car loans. If you have had problems with your auto loans in the past, then the auto-enhanced FICO score could be considerably lower than the FICO scores from this website.

I'd still be concerned about the issue I mentioned first. Ask to see the actual credit report and scores that the dealer pulled, but I don't think they're required to show them to you (they paid for the credit pull, therefore they own it, so you can't demand to see it, but you can ask politely). Also, get pre-approval for financing from your bank or credit union, so that you can use that as a bargaining tool with the dealer.

Re: Wrong FICO-HELP PLEASE!!!!

I doubt I was being scammed because the dealer actually advise me against trading my car because of my score. So I doubt that this was the case. I just have never heard of the score changing so much and so quickly with absolutely no changes from march to may.

Re: Wrong FICO-HELP PLEASE!!!!

I doubt I was being scammed because the dealer actually advise me against trading my car because of my score. So I doubt that this was the case. I just have never heard of the score changing so much and so quickly with absolutely no changes from march to may.

The last time you actually pulled your own score was on March 31. Is this correct? In one month, a lot can change on one's credit report that can adversely affect one's FICO score - a new collection or judgment, for example. I'd take a look at a new report to confirm that there really aren't any changes.

And again, if you have had problems with prior auto loans, then these could have a greater impact on an auto-enhanced score than the nonenhanced scores that you get from here.

ETA: I just saw your most recent post. Have you compared the lender's report and your myFICO.com report from March 31 to confirm that they are more or less identical? And what version(s) of FICO was pulled by the lender?

Re: Wrong FICO-HELP PLEASE!!!!

Yes they are identical. Yes I jpulled it on march 31st. I have never had any issues with my current auto loan and it is my first and only auto loan. I pay ontime each month and have been doing so for almost two years. This is reflected in my credit report and shows good standing. When you say what versions are you talking about the bureaus? All three bureaus were pulled.

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